KUALA LUMPUR: HELP University (HELP) through its Faculty of Computing and Digital Technology formed a strategic collaboration and signed a Memorandum of Understanding (MoU) with Alliance Bank Malaysia Berhad (ABMB) to introduce the very first Research Lab on Generative AI in Malaysia.
The collaborative efforts promise not only to transform the financial industry, but also to revolutionise the education landscape.
Can we use AI to predict the success of new banking products? The question birthed an endeavour that has the potential to reshape product development, decision making, and market survey processes in the banking and financial services sector.
The establishment of the joint Research Lab on Generative AI has positive impacts on education and the financial industry, whereby the educators and students gain the ability to synthesise authentic case studies and fuel further research using real-world use cases and requirements.
This enhances their academic experience and prepares them for the dynamic industry
challenges. The financial industry stands to benefit from this collaboration through the integration of cutting-edge findings into their operations and gains a competitive edge in developing and launching new products.
The predictive power of AI and machine learning also enables faster, more-informed decisions, reduces survey cost and fosters innovation in product design.
Vice Chancellor of HELP University Professor Dr Liew Teik Kooi (Andy) said: “Together with ABMB, we integrate innovation and advanced technology in a research project and create another milestone in education. It is also the first-of-its-kind research lab between the two
institutions where students gain invaluable real-world experience while contributing to groundbreaking research. It’s a win-win for academia and industry, promising to redefine how education and industry intersect.”
The Research Lab collaboration represents a new model of co-operation that promises to seed innovations in fintech and banking while accelerating the transformation of academic knowledge into practical applications for the industry. It aims to disrupt the traditional implementations of the business and revolutionise the development of distinctive financial service products.
Group Chief Human Resource Officer of Alliance Bank, Khim Tan said: “At Alliance Bank, we strive to attract, develop and retain the brightest talent. By establishing longterm collaboration with universities, the Bank aims to attract and hire top graduates while providing exciting development opportunities to further increase graduate employability.
Through partnership such as this with HELP University, we firmly believe that this strengthens our brand presence among the students through long and short-term initiatives, such as joint research projects, development of joint curriculum and participation in guest lecture particularly in the area of computer science and digital technology.”
HELP’s Master of Data Science students involved in the research could also intern and be trained at ABMB, by which will be advantageous to both parties, as ABMB will be able to tap into the knowledge and experience of the students, whilst the students gain various exposures at a financial institution.
This breakthrough alliance is set to pave the way for disruptive change in both the education and financial sectors, ultimately reshaping how ideas and research findings are translated into real-world applications.